This Retail property is For Sale.

1533 State and 11 West Arrellaga
Santa Barbara, CA 93101 ·

9,100 SF · Retail For Sale

$5,495,000

· Print

Cantwells Market & Deli

Price $5,495,000 Cap Rate 5.50%
Gross Leasable Area 9,100 SF No. Stories 1
Price/SF $603.85 Tenancy Multiple
Property Type Retail Year Built 1995
Property Sub-type Neighborhood Center Lot Size 0.43 AC
Property Use Type Net Lease Investment with 10+ years left on lease APN / Parcel ID 027-231-022
Commission Split 2.5%
Find out more...
Listing ID: 5725240 Date Created: 11/14/2000 Last Updated: 01/17/2016

Description

NNN INVESTMENT yields a 5.5% CAP at full asking price! With a high-profile location on State Street, this portfolio property consists of 2 Spanish-tiled buildings totaling 9,100 s.f. of improvements on an 18,879 s.f. corner parcel. This location is on the business corridor of one of the most valuable commercial districts in the nation and sees 30,000+ cars a day.

This property is leased to Cantwells Market paying $2.75 s.f / month = $300,300 annual. At full asking price, this NNN investment can generate a 5.5% CAP! Tenant is a great guarantor and business has been wonderfully successful since 1982!

Call listing agent for details.

The Cantwells Market property is on the corner of Arrellaga and State Street, a prime piece of FEE SIMPLE real estate. It is ideally-located smack-dab on the business corridor of one of the most valuable districts in the nation. Excellent visbility, high traffic (over 30,000 / day), loads of parking and easy-access. Take Hwy. 101 north to Arrellaga exit and go to State Street. OR, from the pier, go directly up State Street to Arrellaga.

Highlights

  • A+ location with an outstanding tenant and guarantor
  • Long term lease available at $2.75 s.f / month.
  • High profile portfolio property dowtown on State Street
  • Appealing architecture, good condition, level parcel, mountain views.
  • Clean Environmental Report is available.

Research

1533 State and 11 West Arrellaga, Santa Barbara, CA 93101 (Santa Barbara County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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